文章基本信息

标题：Do Brands Matter in Unlisted Firms? An Empirical Study of the Association between Brand Equity and Financial Performance
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作者：Anne Schmitz ; Nieves Villaseñor-Román
期刊名称：Administrative Sciences
电子版ISSN：2076-3387
出版年度：2018
卷号：8
期号：4
页码：65-76
DOI：10.3390/admsci8040065
出版社：MDPI Publishing
摘要：In spite of the importance of the brand management in marketing studies and practice, there is a scarcity of prior research on the links between brand equity and financial performance, particularly in unlisted (unquoted) firms. The study contributes to prior research along a number of dimensions. It provides evidence on the relevance of brands for unlisted firms of several industries, by showing that brand equity is associated with financial performance even in non-quoted firms without world-recognized brands. Second, the study analyzes the association between brands and accounting-based measures of performance, across different windows and financial indicators. Finally, the evidence on earnings persistence is particularly relevant, as it potentially sheds light on the existing debate on the association between brand equity and stock markets. To the extent that firms with greater brand equity have more persistent earnings, current earnings contain greater information about future earnings, which show the relevance of brand management in the strategic planning of unlisted firms.
关键词：brand equity; financial performance; unlisted firms; earnings brand equity ; financial performance ; unlisted firms ; earnings